Invest with Jac's is a blog to share my personal investment views on how to start and continue to look for valuable companies and properties to invest in.

Thursday, May 6, 2010

Stockpiling Time

Last night, 6 May 2010, DOW went down more than 3% and the Greece situation has caused panic selling around the world. This is the period we like. It's time to stockpile some value stocks now.

In Singapore today, 7 May 2010, people are panic selling too. Popular is trading between $0.145 and $0.150, banks are worse hit. All the three banks are down, despite reporting better than expected results.

In the US, Citigroup is trading below $4, for the first time in 3 months. It is reported that Citigroup is not involved in the technical glitch in NYSE last night, and they are expanding everywhere outside US, except Europe. I still agree with other analyst that Citi will reach $12 by 2012. Earnings in Citi are solid and they have already firm the company and earnings are coming in.

Popular's new MD maded an announcement that Popular will have a single digit earnings growth this year. I think people have forgotten about this annoucement and panic selling Popular too. At $0.15, it's really a steal. Dividend yield is at 13.3% (if according to historical dividend of $0.02 annually). Popular will announce annual result in late May or early June, therefore I feel that this is a good time to stockpile.

The above is just some personal thoughts, it still depends on yourself whether to buy or not.